Experience has shown that it is not enough to have a product to enter a market successfully. You need the right go-to-market strategy, the right mindset and team, the right leadership and problem-solving skills. That's why this year's Push2Start program will once again provide the recipients of the Slovene Enterprise Fund's P2 start-up incentive with the basic skills needed to successfully enter the market.
We were guided through the first part of the Push2Start program by three experienced experts who covered three important areas in their workshops.
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Jon Butterfield talked about a go-to-market strategy on how to effectively position the product in the market and be successful
The go-to-market strategy and matching the product to the market is essential for survival and is understanding who your target market and audience are, where they are and how to get them to your product or service. Product market fit is matching the product to the market we are targeting.
Jon took us through the 6 steps that lead to a successful go-to-market strategy:
- Identify your target market - which market segment can you successfully target and where are the biggest pain points and gaps?
- Identify your target customer - really understand who your customers are, how they behave, where they can find your product and what their experience is like.
- Define your channels - where can you reach your target customers and where can you promote yourself?
- Define your offer - link the key features and benefits of the product to the needs and problems of your target customers.
- Create a financial model – set the price of the product and estimate the costs.
- Define your brand position - how does the market perceive your brand?
Jon Butterfield
WANT TO KNOW WHY A GO-TO-MARKET STRATEGY IS SO IMPORTANT, THE MOST COMMON MISTAKES COMPANIES MAKE WHEN GOING TO MARKET AND JON BUTTERFIELD'S 3 TIPS FOR ALL STARTUPS? WATCH THE VIDEO BELOW.
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Niels Bogerd gave practical advice on how to run and grow a successful startup based on his own experience with his startup SenseGlove
Niels reminds us that it is crucial to think about scalability and the company's core values from the start and make sure that everyone in the company understands them.
It is important to spend a lot of time with the co-founders and the management team, talking about what kind of company you want to be. In the beginning, the team is usually very small, so it is important to optimize the business. The team needs to work independently but with the same vision.
Niels Bogerd
After a year, it is also advisable to draw up an organizational chart to follow. In case of expansion, it is good to know who has what responsibilities and who will lead the teams. The rest of the team needs to understand what you want to build and what skills and knowledge you expect.
Niels advises that during this time, you often work in the same room, take time out to do something fun, like have lunch together or play table tennis, and bond.
Project management becomes increasingly important as new people join your team. The key is to provide structure and rhythm. You need to make sure that the whole team is kept informed. This can be done by having 'briefing' meetings at the end of the week to discuss what has been achieved and what needs to be done in the coming week. You also need to set short and long-term goals.
FIND OUT WHICH TIP NIELS BOGERD HAS FOR YOU BY WATCHING THE CLIP.
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Mateja Verlič Brunčič explained how to use the Lighting Decision Jam method to solve problems in your team or company quickly and effectively
Lighting Decision Jam, or LDJ for short, is the perfect workshop for solving big problems quickly. It helps you to resolve all open questions and discussions and stimulates creativity and innovation.
Mateja Verlič Brunčič
Created by AJ & Smart employees, it is defined as "a short exercise to solve internal team problems as quickly as possible". It lasts between 40 and 60 minutes and teams always get accurate and actionable results from this exercise. LDJ gives everyone the opportunity to share their thoughts and propose solutions in a more effective way than a traditional meeting. Although it usually lasts less than an hour, it always re-energizes the team, increases productivity and delivers useful results.
This exercise is designed to help the team learn how to solve problems and try out approaches without overthinking or over-debating.
ARE YOU INTERESTED IN MORE ADVICE FROM MATEJA?
3 rich content blocks and 9 practical workshops to help you lay the right foundations for a fast-growing global business
The Push2Start go-to-market accelerator program is run by Technology Park Ljubljana and is aimed at recipients of the P2 start-up incentive from the Slovene Enterprise Fund. In three content blocks and nine practical workshops, the program enables participants to build a solid foundation for a fast-growing global business and to enter the market in the shortest possible time with the highest possible speed.
The Slovene Enterprise Fund also organizes a number of other cutting-edge entrepreneurial programs for portfolio companies, such as the Startup Clinic, SK Growth Camp, Web 3.0 Accelerator Program, Push2Start, Podim, Hardware START, ScaleUPgrade, Teambuilding and many others. These programs effectively complement the P2, SK75 and SI-SK financial products, which provide Slovenian start-ups with between EUR 54,000 and EUR 600,000 in start-up funding.
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Content support for recipients of P2, SK75 or SI-SK financial products under the "de minimis" scheme is co-financed from the Slovene Enterprise Fund and the European Union from the European Regional Development Fund. This is implemented on the basis of the Content Support for Funds Recipients (SMEs) Programme in the 2018-2023 period, under the Operational Programme for the Implementation of the European Cohesion Policy 2014-2020.
